"India’s financial markets are in the throes of a bear hug. And the core of the crisis that has shaved off Rs8.48 lakh crore ($116.33 billion) in investor wealth in the last ten days is Mumbai-based Infrastructure Leasing & Financial Services (IL&FS)."
I can't understand the article much. But, I do know various stocks have gone down recently, like banks. One of the reason is foreign investors in India are taking their money back since the U.S economy is growing and the banks have raised their interest rate.
Some Indian banks have bad loans and so their stocks are falling. But there are some stocks which can grow. https://www.livemint.com/Companies/TFqFok2W2Nc4Plx3TTd1SI/TCS-crosses--8-trillion-market-cap-after-Reliance-Industrie.html